Wachovia Asset Securit Issuance LLC 2003-he3 TR Inactive
Filed: 14 Jun 04, 12:00am
Monthly Statements to the Securityholders
Pursuant to Section 4.01 of the Sale and Servicing Agreement
Wachovia Asset Securitization Inc
2003-HE3
| Monthly Period | March 1, 2004 through March 31, 2004 | |
| Payment Date | April 26, 2004 |
| Aggregate Amount Collected for the Collection Period | ||||||||||||||||||
| Interest | $ | 1,627,662.65 | ||||||||||||||||
| Principal Collections | $ | 23,484,276.39 | ||||||||||||||||
| Substitution Amounts | $ | — | ||||||||||||||||
| Funds from Yield Maintenance Agreement | $ | — | ||||||||||||||||
| Additional Draws | $ | 10,837,513.30 | ||||||||||||||||
| Application of Collected Amounts (pursuant to Section 3.05 of the Indenture Agreement) | ||||||||||||||||||
| Applied in the following order of priority: | Factor per 1000 | |||||||||||||||||
| (i) | Enhancer Premium | $ | 54,166.67 | |||||||||||||||
| (ii) | A-1 Noteholder’s Interest | $ | 595,555.56 | 1.1911111111 | ||||||||||||||
| (iii) | Principal Collections to Funding Account | $ | — | |||||||||||||||
| (iv) | Excess Spread (during Revolving) | $ | — | |||||||||||||||
| (v) | Excess Spread (during AP) | $ | 977,940.43 | |||||||||||||||
| (vi) | Additional Balance Increase from Excess Spread (during MAP) | $ | — | |||||||||||||||
| (vii) | A-1 Noteholder’s Principal Distribution | $ | 35,680,172.57 | 35.6801726 | ||||||||||||||
| (viii) | Enhancer for Prior Draws | $ | — | Aggregate to Date | ||||||||||||||
| (ix) | Liquidation Loss Amount | $ | — | $ | — | |||||||||||||
| (x) | Enhancer | $ | — | |||||||||||||||
| (xi) | Interest Shortfalls | $ | — | $ | — | |||||||||||||
| (xii) | Indenture Trustee | $ | — | |||||||||||||||
| (xiii) | Certificates | $ | — | |||||||||||||||
| Balances | ||||||||||||||||||
| Factor | ||||||||||||||||||
| Beginning A-1 Note Balance | $ | 500,000,000.00 | 1.0000000000 | |||||||||||||||
| Ending A-1 Note Balance | $ | 464,319,827.43 | 0.9286396549 | |||||||||||||||
| Change | $ | 35,680,172.57 | 0.0713603451 | |||||||||||||||
| Beginning Excluded Amount | $ | — | ||||||||||||||||
| Ending Excluded Amount | $ | — | ||||||||||||||||
| Change | $ | — | ||||||||||||||||
| Beginning Pool Balance | $ | 477,951,546.45 | 0.9558896808 | |||||||||||||||
| Ending Pool Balance | $ | 465,304,783.36 | 0.9305965095 | |||||||||||||||
| Change | $ | 12,646,763.09 | 0.0252931713 | |||||||||||||||
| Beginning Principal Balance | $ | 477,951,546.45 | 0.9558896808 | |||||||||||||||
| Ending Principal Balance | $ | 465,304,783.36 | 0.9305965095 | |||||||||||||||
| Change | $ | 12,646,763.09 | 0.0252931713 | |||||||||||||||
| Beginning Certificate Balance | $ | — | ||||||||||||||||
| Additional Balance Increase (Draws minus Payments) | $ | — | ||||||||||||||||
| Ending Certificate Balance | $ | — | ||||||||||||||||
| Beginning Subsequent Transfers | $ | — | ||||||||||||||||
| Current Period Transfers | $ | — | ||||||||||||||||
| Aggregate Subsequent Transfers | $ | — | ||||||||||||||||
| Beginning Funding Account Balance | $ | 22,055,469.05 | 0.0441109381 | |||||||||||||||
| Deposit To (Withdrawal From) Account | $ | (22,055,469.05 | ) | (0.0441109381 | ) | |||||||||||||
| Ending Funding Account Balance | $ | — | — | |||||||||||||||
| Current Period Liquidation Loss Amount | $ | — | — | |||||||||||||||
| Aggregate Liquidation Loss Amount | $ | — | — | |||||||||||||||
| Current Net Excess Spread Percentage | 0.1956 | % | ||||||||||||||||
| 2 Month Average Net Excess Spread Percentage | 0.1762 | % | ||||||||||||||||
| 3 Month Average Net Excess Spread Percentage | 0.1697 | % | ||||||||||||||||
| Delinquencies | ||||||||||||||||||
| # | $ | |||||||||||||||||
| Two statement cycle dates: | 2 | $ | 91,525.87 | |||||||||||||||
| Three statement cycle dates: | — | $ | — | |||||||||||||||
| Four statement cycle dates: | — | $ | — | |||||||||||||||
| Five statement cycle dates: | 1 | $ | 14,309.95 | |||||||||||||||
| Six statement cycle dates: | — | $ | — | |||||||||||||||
| Seven + statement cycle dates: | — | $ | — | |||||||||||||||
| Foreclosures | — | $ | — | |||||||||||||||
| REO | — | $ | — | |||||||||||||||
| Liquidation Loss Amount | — | $ | — | |||||||||||||||
| Wachovia Bank, National Bank | ||||||||||||||||||
| as Administrator | ||||||||||||||||||
| Additional Information | ||||
| Net WAC Rate | 3.28 | % | ||
| Overcollateralization Target | $ | 5,000,000.00 | ||
| Beginning Overcollateralization | $ | 7,015.50 | ||
| Overcollateralization Amount | $ | 984,955.93 | ||
| Funding Account Ending Balance | $ | — | ||
| Gross CPR (1 mo. Annualized) | 45.371 | % | ||
| Net CPR (1 mo. Annualized) | 27.516 | % | ||
| Draw Rate (1 mo. Annualized) | 24.060 | % | ||
| WAM | 213.28 | |||
| AGE | 23.21 | |||
| UPB of 3 Largest Loans | ||||
| $ 708,027.84 | ||||
| $ 744,574.88 | ||||
| $ 818,686.31 | ||||
| Interest Shortfalls | None | |||
| Deficiency Amounts | None | |||
| Stepdown Event? | No | |||
| LIBOR | 1.0900 | % | ||
| Net Note Rate | 1.3400 | % | ||
Allocation of Collected Funds | ||||
| Interest Collections | ||||
| Total Collected | $ | (1,826,809.13 | ) | |
| Yield Maintenance Amount | $ | — | ||
| Servicing Fee | $ | 199,146.48 | ||
| Enhancer Premium | $ | 54,166.67 | ||
| Additional Balance Interest | $ | — | ||
| A-1 Interest | $ | 595,555.56 | ||
| Excess Interest | $ | 977,940.43 | ||
Net | $ | — | ||
| Principal Collections | ||||
| Total Collected | $ | (23,484,276.39 | ) | |
| A-1 Principal | $ | 35,680,172.57 | ||
| Add’l Balance Increase | $ | — | ||
| Net Draws | $ | 10,837,513.30 | ||
| Funding Account | $ | (22,055,469.05 | ) | |
| Excess as principal | $ | (977,940.43 | ) | |
Net | $ | 0.00 |